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Mar 22, 2013
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an election coming up. and apparently striking this hard line to turn to the germans and say, look, we didn't fund this rescue, this bailout of the russian mafia or something. >> it's true. it's having the intentions first of all to come out as fair, not to put german taxpayers money on before you do a bailin. but at the same time, and more importantly, she wants to keep the euro area safe. it's the crisis in which one country leaves the monetary union is one of her premises and one of her premises of the campaign is to elect strengthening, blowing up for crisis in cyprus will not be helpful to her. there were many mistakes in retrospect. you could say the same for greece, as well. but, you know, it's -- one issue that will be critical is they would not compromise on money laundering issues. they might come mize a little bit here and there on money, but they will not compromise on money laundering. that will be, in my opinion, a prior action. so before the program starts, they have to be clean shaved on tha
an election coming up. and apparently striking this hard line to turn to the germans and say, look, we didn't fund this rescue, this bailout of the russian mafia or something. >> it's true. it's having the intentions first of all to come out as fair, not to put german taxpayers money on before you do a bailin. but at the same time, and more importantly, she wants to keep the euro area safe. it's the crisis in which one country leaves the monetary union is one of her premises and one of...
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Mar 18, 2013
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. >> italian election, cypress. >> it never amounted to anything. we were hearing on twitter, television, how bad things were, this is the start of the sell-off and now it's 12 noon and markets are flat looking like they want to go higher. this will not have a major impact looking long financials and construction and housing. it could amount to something, what's going on in cypress but you stick to the same portfolio you're working on and buy the puts beneath the market. >> if you step back and take the emotion out, you say it's a very good thing for the euro and markets. here's why. the euro, they're basically saying we're going to sacrifice the smallest member, a half per seventh cent of the total gdps who banking section is eight times what the gdp is. if we loaned them whatever they need for the bailout, $17 billion instead of making them pay they could never pay us back. it's two times gdp. so angela merkel can stand up in front of their constituents and say, we drew the line here. the limit will raise up, the limit will go up. >> you think it
. >> italian election, cypress. >> it never amounted to anything. we were hearing on twitter, television, how bad things were, this is the start of the sell-off and now it's 12 noon and markets are flat looking like they want to go higher. this will not have a major impact looking long financials and construction and housing. it could amount to something, what's going on in cypress but you stick to the same portfolio you're working on and buy the puts beneath the market. >> if...
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Mar 25, 2013
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at the moment without an election? >> well, it really sdpents who they're going to be, the ministers, who are you going to support from outside the government. there are lots of -- three or four different -- >> permutations. >> exactly. we'll see. if not, we have to come back to general elections. >> okay. and how would investors view the prospects of -- >> general elections? >> general elections. >> we're going to drop probably another 70 basis points, we'll go back to 330, 350. >> that's manageable. >> well, it's where -- it's well manageable because we've already seen it. we are not going to come back to 7% or on 8%. >> good to see you. thanks for joining us. >> thank you very much. >> we'll take a short break. still to come, plenty more on cyprus. let's remind you of where futures are ahead of the wall street open a little later today. "worldwide exchange" continues after the break. >>> you're watching "worldwide exchange." these are the headlines today from around the world. a relief rally for european stocks, cyp
at the moment without an election? >> well, it really sdpents who they're going to be, the ministers, who are you going to support from outside the government. there are lots of -- three or four different -- >> permutations. >> exactly. we'll see. if not, we have to come back to general elections. >> okay. and how would investors view the prospects of -- >> general elections? >> general elections. >> we're going to drop probably another 70 basis points,...
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Mar 18, 2013
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first up, still licking their wounds from the november election, the republican national committee is out with a new report that outlines steps needed to reboot the party for 2016. among the proposed reforms, a streamlined process for earlier convention. improved outreach to women and young and minority voters. will the reforms be enough to give the gop brand a much-needed boost? joining us is mark stevens, ceo of msco and author of "your marketing sucks." with me the rest of the hour and i thought i introduced before, but i didn't, mark hanna and republican strategist chip saltsman. mark, what did this republican document do for the gop? >> it does nothing. it is a committee report adding to a pollution of noise that is going on in the republican party right now. the fact is as a marketing person, you cannot have a brand, talking about branding, you can't have a brand without a product. >> is the product the message? >> the product is the person. we don't have a person. you can't brand nothing. you say we come with a brand, what is it? gum, software? >> they said governors, pay atten
first up, still licking their wounds from the november election, the republican national committee is out with a new report that outlines steps needed to reboot the party for 2016. among the proposed reforms, a streamlined process for earlier convention. improved outreach to women and young and minority voters. will the reforms be enough to give the gop brand a much-needed boost? joining us is mark stevens, ceo of msco and author of "your marketing sucks." with me the rest of the hour...
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Mar 19, 2013
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live on the ground in italy as the nation prepares for talks to form a government after last month's elections left the country mired in a dead lock. plus, the latest fallout from cypress. we'll be right back. are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price" tool. only from progressive. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> welcome back to "worldwide exchange." sylvia berlusconi has threatened a wave of protests if the central left candidate becomes
live on the ground in italy as the nation prepares for talks to form a government after last month's elections left the country mired in a dead lock. plus, the latest fallout from cypress. we'll be right back. are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo,...
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Mar 25, 2013
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bev got merkel coming along with an election. her party has not been supportive of previous bailouts. it's been the other party. she's worried about her job. so what i think you have right now is a period where the u.s. markets continue to consolidate. it's not running white. it's strongest market. i think the u.s. and u.s. banks at track capital and makes them much stronger. if i had money -- let me go back. i spoke to a very large head funds manager. he pulled every dollar or euro he could out of the eurozone. took it out of luxembourg. we talk about balances in banks to gdp in cyprus at eight times. in lum lux xem borg it's 27 times. if you're not getting paid, interest rates are so low, why tolerate the risk? pull it out. >> why not buy u.s. stocks here? getting a pullback. cyprus deal happens. if that story is still intact. stocks are still relatively cheap. nowhere else to get a return. why not buy stocks here? why not buy the financials right now give reason the fact they 3u8d back on this headline from the dutch finance m
bev got merkel coming along with an election. her party has not been supportive of previous bailouts. it's been the other party. she's worried about her job. so what i think you have right now is a period where the u.s. markets continue to consolidate. it's not running white. it's strongest market. i think the u.s. and u.s. banks at track capital and makes them much stronger. if i had money -- let me go back. i spoke to a very large head funds manager. he pulled every dollar or euro he could...
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Mar 21, 2013
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the countdown now resumes to the federal election which will take place on december the 14th. if current polls are to be believed, julia gillard will lose in a landslide defight to the right leaning liberal party tony abbot. that's the late freft sydney. back over to you. >> and we'll have the latest on this fluid situation in cyprus when we come back. still ahead on the program, chancellor osbourn has looked at growth targets for 2015. we'll go live to westminster. ross westgate will have month reaction to the uk budget when we come back. stay with us. today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> british chancellor george osborne is under fire this morning for a budget. the number in the shadow cabinet claims he sucked the confidence out of the uk
the countdown now resumes to the federal election which will take place on december the 14th. if current polls are to be believed, julia gillard will lose in a landslide defight to the right leaning liberal party tony abbot. that's the late freft sydney. back over to you. >> and we'll have the latest on this fluid situation in cyprus when we come back. still ahead on the program, chancellor osbourn has looked at growth targets for 2015. we'll go live to westminster. ross westgate will...
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Mar 20, 2013
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in the room were two germans that were for this because germany has elections in september and they did not want -- there was a scapegoat. it was russia. >> there was another way out of this. cyprus has offshore energy reserves which you will be able to exploit. that's an asset. >> that's what russia is -- what i understand is happening in negotiations is that's what they're asking for. they want access to that. >> come up with a deal quietly. that is the essence of no matter what esb does it's impossible to get europe growing economically because we make decisions that don't make sense. >> did you see how -- where was sedgwick? was he is russia? we had them arguing. we can do cool stuff. satellite stuff. there was some overlap. it's not easy to do that. now we'll go to kelly evans who i never talk to about whether you went to paris. i don't want to digress. you were thinking about that. did you take the plunge? >> joe, i go this weekend. yes. i'll report back monday and let you know what i think. i haven't been. i'll let you know. in the meantime, i just want to go back to the point ab
in the room were two germans that were for this because germany has elections in september and they did not want -- there was a scapegoat. it was russia. >> there was another way out of this. cyprus has offshore energy reserves which you will be able to exploit. that's an asset. >> that's what russia is -- what i understand is happening in negotiations is that's what they're asking for. they want access to that. >> come up with a deal quietly. that is the essence of no matter...
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Mar 19, 2013
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they have an election this year. they have known for nine months. >> they have known this -- they know the russian dirty money. and they had to know that taxing, literally taxing deposits that are guaranteed is nothing but confiscation of private property. that in the -- even the dummy cypriots would be opposed to this. >> well, and they have got -- >> even got the french. >> no, but -- but it's -- and they let off the bond holders. they're not going to make the bond holders take a hit. so this was -- inexplicable, just like what happened in 2008, after bailing out bear stearns, fannie, freddie, decided to let lehman go down. said we're going to draw the line on lehman and 48 hours later nationalized aig and had to do trillions of dollars of guarantees to the financial system. so this was kind of a muck-up like that. inexplicable. they didn't want to be seen as baling out oil i gargs in an plex year, even though it was a small amount of money and that's how you get a rocky financial system collapsing. >> all right. d
they have an election this year. they have known for nine months. >> they have known this -- they know the russian dirty money. and they had to know that taxing, literally taxing deposits that are guaranteed is nothing but confiscation of private property. that in the -- even the dummy cypriots would be opposed to this. >> well, and they have got -- >> even got the french. >> no, but -- but it's -- and they let off the bond holders. they're not going to make the bond...
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Mar 18, 2013
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could be energy independent by 2020 if he had been elected. at this point where do you see that target? is this realistic? given what the situation is here politically. >> certainly we've made very good progress toward energy independence. i started talking about energy independence about two years ago. and at that time we were over 50% imports. and we've seen import level come down. now it's about 37%. so very good progress has been made. and it's due to the energy renaissance, basically one thing, and that's horizontal drilling. that's got us here. able to drill down two miles, turn right, drill two miles further, and expose 9,000 to 15,000 foot of well bore. so it's gotten us into what we call the immobile oil on earth, which is a bigger portion than the mobile portion that we've been producing for 160 years. >> there is a tipping point, though, in terms of production versus prices in the latest quarter. that's what we saw with you guys. average daily oil production was up 42%. prices were down by 4.8% on average last quarter. the productio
could be energy independent by 2020 if he had been elected. at this point where do you see that target? is this realistic? given what the situation is here politically. >> certainly we've made very good progress toward energy independence. i started talking about energy independence about two years ago. and at that time we were over 50% imports. and we've seen import level come down. now it's about 37%. so very good progress has been made. and it's due to the energy renaissance, basically...
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Mar 21, 2013
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i can almost make a case, larry, that in the last election barack obama was the pro-growth optimist and that mitt romney was the pessimist and kemp always wand that high ground which reagan always had. the point i want to underscore that you just said and then i'll bring the others in, i knew jack, jack was such a dear friend. jack talked constantly about reaching out to minorities, empowerment zones, school choice for example, home ownership. it was jack kemp who worked with charlie rangel to create empowerment zones here in new york and elsewhere and to cut or abolish the capital gains tax to entrepreneurs. it's one of the days to this day i'm still charles errol rangel. the republican party has to get that for blacks, for minorities, for asians, prosperity for everybody of. >> instead of defending multi-millionaires, he went out to those who were poor, minorities and said i want you to be millionaires. >> it wasn't just his energy, it wasn't just his entrepreneurship, it was his message. can you almost say that message of capitalism and prosperity for everybody but especially for tho
i can almost make a case, larry, that in the last election barack obama was the pro-growth optimist and that mitt romney was the pessimist and kemp always wand that high ground which reagan always had. the point i want to underscore that you just said and then i'll bring the others in, i knew jack, jack was such a dear friend. jack talked constantly about reaching out to minorities, empowerment zones, school choice for example, home ownership. it was jack kemp who worked with charlie rangel to...
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Mar 26, 2013
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johnson suffered a brain hemorrhage in 2006, but later returned to the senate and won recollection election in 2008. >>> and the deal has gone bust. atlantic city's rebel casinos filed for chapter 11 bankruptcy protection less than a year after it opened. it cost $2.4 billion to build. it hopes to emerge from bankruptcy by summer. it owns 24 restaurants, 2400 slot machines and 11 00 table gains, but failed to gain appeal in atlantic city which has seen gambling revenue fall for several years. >>> and the ongoing crisis in the eurozone has hit the bottom line of a lot of businesses such as caterpillar. it cut almost half of its workforce in its belgium plant earlier this year on sluggish growth in the region. but the ceo told cnbc today that he's still positive. >> well, our business has been flat and tough for some time. you know, all the way back to '07 and '08, of course. but we found a way to really skinny down our costs. our market now is stable. some countries are better than others. we've seen some nice things in france and germany, of course. italy is -- has been depressed for a long
johnson suffered a brain hemorrhage in 2006, but later returned to the senate and won recollection election in 2008. >>> and the deal has gone bust. atlantic city's rebel casinos filed for chapter 11 bankruptcy protection less than a year after it opened. it cost $2.4 billion to build. it hopes to emerge from bankruptcy by summer. it owns 24 restaurants, 2400 slot machines and 11 00 table gains, but failed to gain appeal in atlantic city which has seen gambling revenue fall for several...
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Mar 18, 2013
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we make senior election necessary cyprus, and this -- >> so ecb and any other regulators in europe, how do you get your credibility back right now? >> oh, i think they think they have plenty of credibility. what are you talking about? >> what do you mean? >> they have no doubts -- exactly. exactly. >> if they had violated the insurance threshold, i think a lot of people would be saying exactly that. this is brilliant. you're finally get to go where you need to go instead of passing it on, socializing the costs to taxpayers across europe, i.e., germany and the sense. >> we have to figure out our priorities here. >> we're going to talk it out over the commercial break. >> i wouldn't do solar and i wouldn't do like preschool, that program, you know. >> much more efficient way to do a carbon tax. >> look at patti murray's budget and tell me how that is different than what this is. will you do that, too? and get back to me. >> if you were just waking up this morning, global markets under pressure. a lot of fears over this cyprus bailouts. u.s. equity futures at this point are under pressure,
we make senior election necessary cyprus, and this -- >> so ecb and any other regulators in europe, how do you get your credibility back right now? >> oh, i think they think they have plenty of credibility. what are you talking about? >> what do you mean? >> they have no doubts -- exactly. exactly. >> if they had violated the insurance threshold, i think a lot of people would be saying exactly that. this is brilliant. you're finally get to go where you need to go...
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Mar 20, 2013
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. >> in japan you couldn't basically edit your webpage or you could e-mail during an election campaign. now the government is trying to change that and they're willing to change i think. >> we will have to leave it there. breaking data coming up. fascinating point about the yen how stronger yen helps if you're the buyer of some of these companies. thank you very much, sir. >>> the data is out as we wait from the u.k. today is a huge day in britain. we have the budget. government under pressure because they haven't met the targets they initially laid out. still the economy on the employment side holding up reasonably well. the question is whether that has continue. we'll see if we get unemployment figures out here in a second. from looking at the bank of england minutes there was a 9-0 vote to keep rates unchanged. 6-3 vote to keep the program at the current size. again, governor king, fisher and miles wanted a $25 billion extension to the quantitative easing program. king outvoted yet again. let me see if i get the employment data up for you here. it looks like the three-month average
. >> in japan you couldn't basically edit your webpage or you could e-mail during an election campaign. now the government is trying to change that and they're willing to change i think. >> we will have to leave it there. breaking data coming up. fascinating point about the yen how stronger yen helps if you're the buyer of some of these companies. thank you very much, sir. >>> the data is out as we wait from the u.k. today is a huge day in britain. we have the budget....
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Mar 18, 2013
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they may feel now their possibility in a second election might be strengthened. anti-austerity crowds, that might make it difficult short term. one reason i think italy is down more than the rest of europe. second, there's a european banking unit supposed to be formed. doing long-term plans and one of the ideases behind this is an european pan deposit insurance guarantee. that's going to be tougher to sell to local governments. might be able to tax them even if it's a remote possibility it makes that european banking union tougher. let's look at what's on the upside and it's all the sort of risk/loss kind of things. gold is up. metal and mining stock is up. long-term treasuries are up. all the bond etfs are to the upside. biggest corporate bond, lqd. all of them are on the upside. not a surprise but fairly modest moves for them as you can see. >> thank you. >>> all right. let's go to check on energy and commodities. sharon epperson at the nymex. >> definitely. that's what where the safe haven bid is. gold prices up 1700 an ounce. we got as high as 1610 an ounce.
they may feel now their possibility in a second election might be strengthened. anti-austerity crowds, that might make it difficult short term. one reason i think italy is down more than the rest of europe. second, there's a european banking unit supposed to be formed. doing long-term plans and one of the ideases behind this is an european pan deposit insurance guarantee. that's going to be tougher to sell to local governments. might be able to tax them even if it's a remote possibility it...
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Mar 22, 2013
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you have merkel coming into an election you have uncertainties about the regime in spain. you've got problems all over the place politically. so i think where the last year was mainly a risk of banks and economics, to the degree there's a european risk this year i think it's more political. >> we always call you a vulture. in this country where the markets have done, is there anything attractive left in the united states for you? >> well, i would rather share the view that roger had a bit earlier. i think if anything the economy is more likely to accelerate in 2014. so i don't think things are grotesquely overvalued in terms of equity. where i would be very weary would be bonds. if the 10-year treasury reverts back just to its average yield from 2000 through 2010, do you know how much it will go down? 23%. 23%. that's a huge risk. so we've been advising friends it's not worth getting a few extra basis points to take that kind of down side risk for a year or two while bernanke keeps this quantitative easing going. we're recommending people not be in long-term debt of any ki
you have merkel coming into an election you have uncertainties about the regime in spain. you've got problems all over the place politically. so i think where the last year was mainly a risk of banks and economics, to the degree there's a european risk this year i think it's more political. >> we always call you a vulture. in this country where the markets have done, is there anything attractive left in the united states for you? >> well, i would rather share the view that roger had...
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the italians elections didn't matter, for lack of a bett eter word. to the point now where we barely get a 3% decline over the span of hours. >> neil, i wonder what you're telling clients who say, you know what, i would love to be part of any rally at this point. but i don't know if i have the stomach for this kind of stuff. >> well, i think you've got to bring the cyprus situation home, first, carl. h is what companies in the united states are dealing with to a certain extent and i agree with dan from his comments. but essentially you got companies sitting on $3 trillion in cash in short-term investments but they don't know what washington's going to do. either in levy more taxes, put in more fees, more regulations. and so we're dealing to a certain extent in a financial markets exactly what cyprus is dealing with in their banking crisis. but overall, the markets are in very good shape. the downturns, you know, maybe get a 5% correction, doesn't halt the bull market that we're in. and we hatch to look at price of sales. when i start to look at price
the italians elections didn't matter, for lack of a bett eter word. to the point now where we barely get a 3% decline over the span of hours. >> neil, i wonder what you're telling clients who say, you know what, i would love to be part of any rally at this point. but i don't know if i have the stomach for this kind of stuff. >> well, i think you've got to bring the cyprus situation home, first, carl. h is what companies in the united states are dealing with to a certain extent and i...
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and because the people who had to vote have to be re-elected. >> do you have friends, family that's over there? >> i was born in greece. >> they're close neighbors, right? >> we're close neighbors, absolutely. and the majority of cypriots agree. and a little known fact is that aphrodite was born in cyprus. did you know that? >> i did not. >> i didn't know gods were born. >> born at the place where kronos had sewn the severed genitals of his father. >> what? what did he do? >> he cut off the genitals of uranus, his father and threw them into the sea. >> that's what people feel this bailout feels like. >> the russian oliog worry. >> you think this is rough? read the greek myths. >> it would help if they had capitalized, some type of capital structure. >> if you look at iceland, ireland, cyprus, three islands, they became hubs for international money. and they didn't really have capitalization to be able to deal with it. 80 times bigger than cyprus gdp is its banking sector. >> they let their standards slide at times. >> my favorite piece of data is that cyprus's gdp, 25 billion euros -- do
and because the people who had to vote have to be re-elected. >> do you have friends, family that's over there? >> i was born in greece. >> they're close neighbors, right? >> we're close neighbors, absolutely. and the majority of cypriots agree. and a little known fact is that aphrodite was born in cyprus. did you know that? >> i did not. >> i didn't know gods were born. >> born at the place where kronos had sewn the severed genitals of his father....
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he'll be able to do that or whether we'll still go to a caretaker government until there are fresh elections and there may be movement on this over the weekend particularly if he can do a deal with berlusconi. in the meantime we have breaking news. >> it's not breaking news. reuters is sending it to session highs above 130 against the u.s. dollar. reuters is quoting, and i want to be very careful with this, but reuters is quoting the deputy leader of the island's ruling democrat party ruling that a solution to cyprus's bailout crisis could be within houris. >> want to explain what is happening here. essentially they didn't get a deal from russia so they're being forced back to the european union. the stuff you see michelle talking about is all an attempt to do a deal a, that will get through parliament and secondly, that the rest of europe will agree to to a, give them $10 billion to prop up the banks and secondly that there would be enough there on some sort of giveback from the private sector and be that on the levy on the banks that we've spoken about so many times. >> we had crossed abov
he'll be able to do that or whether we'll still go to a caretaker government until there are fresh elections and there may be movement on this over the weekend particularly if he can do a deal with berlusconi. in the meantime we have breaking news. >> it's not breaking news. reuters is sending it to session highs above 130 against the u.s. dollar. reuters is quoting, and i want to be very careful with this, but reuters is quoting the deputy leader of the island's ruling democrat party...
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let's look where they were back in november around the election about how to cut the deficit. 3% said do it with tax hikes only. 16% in spending cuts only. very little support for tax hikes only. 12 points up. 55% want a combination. but 12-point drop. what's interesting is it was entirely driven by changes in republicans's attitudes almost entirely. 28% republicans back in march. now it's more like 50% if you look at the current results. a slight change of 6% to 13%. but republicans less inclined in part because there were in fact, tax hikes. 15% unsure. 27% say they expected to have no impact. 40% say it will hurt the economy. do i combine them? just come over here for a second. i get 45%. the question is whether or not president obama is making his case about the danger of sequester. i want to point out zoom in on this word "agree." all the other posters say who do you blame? we don't ask that question. it presumes there's something wrong with it. we asked a neutral question, who do you agree with? 31% supports obama. 25% the the gop and congress. and this is the big one here, 28%
let's look where they were back in november around the election about how to cut the deficit. 3% said do it with tax hikes only. 16% in spending cuts only. very little support for tax hikes only. 12 points up. 55% want a combination. but 12-point drop. what's interesting is it was entirely driven by changes in republicans's attitudes almost entirely. 28% republicans back in march. now it's more like 50% if you look at the current results. a slight change of 6% to 13%. but republicans less...
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>> we initially put the number out in october as we were going through the election and fiscal cliff. we kind of entered into this period of blue skies in a lot of ways. a enyou know, we are not a quarter sbo the year and we think the the earnings estimate is conservative and we think the odds are that target should come up as we move ahead. >> we look forward to you publishing that. well -- >> peter, are you also in the blue skies category? >> well, i'm not sure about blue skies. i do think from a technical perspective things look pretty good. that is not to say i would rush out and buy the s&p 500. i do think it's a stock picker's market. plenty of stocks are trading at reasonable p.e.s. that's what people have to focus on. if you look at inflation adjust ed levels, they're really not at an all time high. maybe the s&p 500 will be up conservatively 10% this year. i want to put a conservative focus on that. i feel much more optimistic this time than last time. >> let me get to the nuances behind what you're kbpting for the markets. it sounds like you're optimistic. you think the mark
>> we initially put the number out in october as we were going through the election and fiscal cliff. we kind of entered into this period of blue skies in a lot of ways. a enyou know, we are not a quarter sbo the year and we think the the earnings estimate is conservative and we think the odds are that target should come up as we move ahead. >> we look forward to you publishing that. well -- >> peter, are you also in the blue skies category? >> well, i'm not sure about...
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the election, right before you go out on a limb and you're exactly right. can you be exactly right. you're right about that. lasalle? that was because of philly. >> totally. >> but you made a point of saying, lasalle, and they knocked off kansas state and if mississippi can beat wisconsin, did you not think that would be a problem? i have to tell you, i think wichita state better watch out. the offense is real. my mom lived around the block from lasalle so it was a total phone call and it's been years. now you're arguing with my daughter who for some reason is a huge shocker fan. i love the shocker game and you know what? the temple game was fantastic. i said, god, that was a great game and i realized, i liked that a lot more after it was done and i had my head in my hands. and did you watch him make the free throws? >> no. you had a run of ten points at the end and i felt so bad because fran dunphy is 3 and 14 in the nca and boy, these games are everything, joe. did you see what's his name on ohio state? did you see that? >> i'll take that. i need that because ohio state i have goi
the election, right before you go out on a limb and you're exactly right. can you be exactly right. you're right about that. lasalle? that was because of philly. >> totally. >> but you made a point of saying, lasalle, and they knocked off kansas state and if mississippi can beat wisconsin, did you not think that would be a problem? i have to tell you, i think wichita state better watch out. the offense is real. my mom lived around the block from lasalle so it was a total phone call...
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by making his first overseas trip to china as you see there with president zi gin ping and the newly elected president of china. government officials telling us the meeting lasted about 45 minutes and it was a warm and wide-ranging discussion as they say in the official readout given to reporters. secretary lew we are told raised several issues including the exchange rate, intellectual property, cyber security and north korea. other than that, we don't yet have a whole lot of information about this meeting which took place overnight east coast time in china yesterday. the key here, warm and wide ranging discussion, guys. this readout is given to us in diplo speak. if they say anything other than a warm and wide-ranging discussion then you think there might be trouble in the horizon and the meeting went well and that's what we know as of right now. >> eamon, thank you very much. >> you bet. >> closer to home, lululemon is down nearly 12% in the past three sessions posting its worst three-day loss since the beginning of august. as you may be aware by now, lululemon is recalling black yoga pant
by making his first overseas trip to china as you see there with president zi gin ping and the newly elected president of china. government officials telling us the meeting lasted about 45 minutes and it was a warm and wide-ranging discussion as they say in the official readout given to reporters. secretary lew we are told raised several issues including the exchange rate, intellectual property, cyber security and north korea. other than that, we don't yet have a whole lot of information about...